Intuit (NASDAQ:INTU) Rating Increased to Buy at StockNews.com

Intuit (NASDAQ:INTU – Get Rating) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

A number of other research firms also recently commented on INTU. Daiwa Capital Markets assumed coverage on Intuit in a report on Wednesday, March 15th. They issued an “outperform” rating and a $444.00 target price for the company. Bank of America lifted their price target on Intuit from $485.00 to $500.00 in a research note on Wednesday. Wells Fargo & Company lifted their price target on Intuit from $475.00 to $525.00 and gave the stock an “overweight” rating in a research note on Monday, April 3rd. KeyCorp lifted their price target on Intuit from $475.00 to $485.00 and gave the stock an “overweight” rating in a research note on Monday, April 17th. Finally, BMO Capital Markets lifted their price objective on Intuit from $462.00 to $485.00 in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $491.35.

Intuit Price Performance

Shares of NASDAQ INTU opened at $413.10 on Friday. Intuit has a 1-year low of $352.63 and a 1-year high of $490.83. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a fifty day moving average price of $433.52 and a 200 day moving average price of $412.09. The company has a market cap of $115.90 billion, a PE ratio of 52.16, a P/E/G ratio of 3.36 and a beta of 1.19.

Intuit (NASDAQ:INTU – Get Rating) last released its earnings results on Tuesday, May 23rd. The software maker reported $8.92 EPS for the quarter, beating analysts’ consensus estimates of $7.30 by $1.62. Intuit had a return on equity of 16.88% and a net margin of 15.91%. The company had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $6.09 billion. During the same quarter last year, the company earned $6.70 earnings per share. Intuit’s quarterly revenue was up 6.9% compared to the same quarter last year. Sell-side analysts forecast that Intuit will post 9 EPS for the current year.

Insider Activity

In other news, EVP Marianna Tessel sold 1,744 shares of Intuit stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $407.36, for a total value of $710,435.84. Following the transaction, the executive vice president now directly owns 26,458 shares of the company’s stock, valued at approximately $10,777,930.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Lauren D. Hotz sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $413.16, for a total transaction of $206,580.00. Following the transaction, the chief accounting officer now directly owns 1,781 shares of the company’s stock, valued at approximately $735,837.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Marianna Tessel sold 1,744 shares of the business’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $407.36, for a total value of $710,435.84. Following the transaction, the executive vice president now directly owns 26,458 shares in the company, valued at $10,777,930.88. The disclosure for this sale can be found here. Insiders have sold 7,328 shares of company stock valued at $3,019,323 in the last three months. Corporate insiders own 3.18% of the company’s stock.

Hedge Funds Weigh In On Intuit

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Altshuler Shaham Ltd acquired a new position in shares of Intuit in the 3rd quarter valued at approximately $25,000. HHM Wealth Advisors LLC acquired a new position in shares of Intuit in the 1st quarter valued at approximately $25,000. Raleigh Capital Management Inc. raised its position in shares of Intuit by 100.0% in the 1st quarter. Raleigh Capital Management Inc. now owns 58 shares of the software maker’s stock valued at $26,000 after purchasing an additional 29 shares in the last quarter. Activest Wealth Management acquired a new position in shares of Intuit in the 1st quarter valued at approximately $27,000. Finally, Kistler Tiffany Companies LLC raised its position in shares of Intuit by 275.0% in the 4th quarter. Kistler Tiffany Companies LLC now owns 75 shares of the software maker’s stock valued at $29,000 after purchasing an additional 55 shares in the last quarter. 82.65% of the stock is owned by institutional investors and hedge funds.

About Intuit

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Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed, Consumer, Credit Karma, and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.